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Wix.com price target lowered to $160 from $250 at Citizens JMP

Citizens JMP lowered the firm’s price target on Wix.com (WIX) to $160 from $250 and keeps an Outperform rating on the shares. The company reported solid Q2 results as bookings came in slightly above the high-end of guidance, the analyst tells investors in a research note. The firm reduced its operating income estimates to reflect Wix’s incremental investments in artificial intelligence.

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